USD/CAD had another one of its signal-free runs, which worked in its favor, while CAD/CHF snagged a couple of short signals.
Here’s how the latest positions turned out.
In this revised version of the Short-Term Bollinger Reversion Strategy, I’m waiting for RSI to cross above or below oversold or overbought levels to indicate a bit more momentum in the direction of the trade.
Make sure you review the tweaks here.
The pair was trending lower for the most part of the week, bouncing off the bottom band a few times but not generating any long signals. Phew!
Meanwhile, CAD/CHF cruised higher then caught a valid short signal on a test of the top Bollinger Band.
The first short play was able to bag pips when the pair dipped to the middle band. The rest of the position was closed at breakeven, as price popped back up again.
The next short position is still open, as CAD/CHF hasn’t quite reached any of the initial exit levels.
With that, this pair chalked up a meager 4.5-pip or 0.09% gain for the week.
This puts the Short-Term Bollinger Reversion Strategy slightly back in the green after back-to-back weekly losses.
Seen how the numbers turned out for Q1 2021 yet?